Plus500 Launches $110 Million Share Buyback Program

Plus500 Launches $110 Million Share Buyback Program

Plus500 Ltd (LON) reveals a new $110 million share buyback program, enhancing its commitment to shareholder returns. This initiative follows a $100 million buyback and reflects the company’s confidence in its future growth. Managed by Panmure Liberum, the program will run until March 31, 2025.

Plus500 Ltd (LON), the international multi-asset fintech group, has announced a substantial $110 million share buyback program, marking a significant step in its commitment to shareholder returns. The company launched the new buyback program today as part of its broader $185.5 million shareholder return plan, outlined in the interim results for H1 2024 on August 19, 2024.

The program follows a previous buyback initiative valued at $100 million in February 2024 and completed earlier this month. This latest move underscores the Board’s enduring confidence in Plus500’s growth prospects and financial stability.

Plus500 Launches $110 Million Share Buyback Program

Under the new buyback program, Plus500 can also repurchase 5,694,522 shares. Moreover, this figure corresponds to the maximum number of shares the company can buy back based on shareholder authorization received at the Annual General Meeting on May 7, 2024, adjusted for shares already repurchased.

The company will acquire the shares through open market transactions, basing purchases on market conditions, share price fluctuations, trading volume, and other relevant factors.

Panmure Liberum Limited will manage the buyback process as an irrevocable, non-discretionary program, ensuring that shares are repurchased within established parameters. The company’s Board members and executives lack the authority to alter the buyback terms, which Panmure Liberum will manage exclusively. The buyback program begins today and will run until March 31, 2025, continuing through any closed periods that may apply to Plus500.

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